Cuba frees Canadian businessman Tokmakjian after 3 years in jail

HAVANA, Feb 21 (Reuters) - Cuba has freed Canadian
businessman Cy Tokmakjian after more than three years in jail,
his company said on Saturday, resolving a case that had strained
Cuban-Canadian relations and alarmed foreign investors.

Tokmakjian, founder of the Ontario-based company, was
convicted of bribery and other charges and sentenced to 15 years
in September in what the transportation company had called a
"show trial" and a "travesty of justice."

Cuban prosecutors had outlined a pattern in which Tokmakjian
wooed Cuban officials and their families with a series of gifts,
helping the Tokmakjian Group do business estimated at $80
million annually with Cuba until the company was shuttered and
its founder arrested in September 2011.

Tokmakjian "was welcomed home by his family, friends, and
thousands of employees," said the company statement, which also
thanked the Canadian government. A spokesman said the
74-year-old was released early Saturday.

The statement made no mention of two Canadian aides from the
Tokmakjian Group, Claudio Vetere and Marco Puche, who were also
convicted and sentenced to 12 and 8 years. They had been under
house arrest pending trial and while their convictions were
being appealed.

Fourteen Cubans including the former deputy sugar minister
and the former director of the state nickel company were also
convicted and sentenced to terms ranging from 6 to 20 years.

Foreign companies and diplomats had raised concerns that
Tokmakjian's case could scare off investors while Cuba was
actively seeking foreign capital. It also annoyed Canada, a
major trading partner.

"His ordeal is a cautionary tale to any investor who thinks
the Cuban playing field is level," said Peter Kent, Tokmakjian's
member of parliament.

Cuba seized about $100 million worth of company assets
including bank accounts, inventory and office supplies, a ruling
the company was challenging in international arbitration.

No immediate reason was given for the sudden release of
Tokmakjian, whom Cuba had previously hailed as a model business
partner over 20 years for supplying crucial transportation
equipment during a severe economic crisis after the collapse of
the Soviet Union.

The company was later caught up in an investigation of
Cuba's international trading sector, part of a crackdown on
corruption.

Throughout the time Tokmakjian was tried in June and
sentenced in September, the Canadian government was helping the
United States and Cuba by serving as host to secret talks on
restoring diplomatic ties.

It was unknown whether Canada's role had any influence on
Tokmakjian's release.
(Reporting by Daniel Trotta, additional reporting by David
Ljunggren in Ottawa and Jeffrey Hodgson in Toronto; Editing by
Chizu Nomiyama)